California is home to numerous professional sports teams, contributing to its abundance in the field. Meanwhile, Nevada holds the title of being the global epicenter of gambling. Surprisingly, nestled in between these two states is Arizona, which has managed to dominate the sports gambling market in just a year.
Quietly, Phoenix has emerged as a national hub for sports gambling, thanks to its passionate fan culture, unique demographics, well-crafted legislation, and a stroke of good fortune. Since its opening in September 2021, the state has been bustling with various competitive sportsbooks, experiencing a significant influx of activity.
Within the first few months alone, Arizona-based sportsbooks have already accumulated an impressive $1.75 billion in wagers. These Arizona establishments entice local and out-of-state players with enticing bonuses, an extensive range of games, and excellent customer service.
Governor Doug Ducey of Arizona has expressed his support for the tribal groups with special gambling privileges. He also plans to regulate bets on fantasy leagues and keno games.
Arizona Sports Betting Dominates in Year One
Arizona, the 23rd state to legalize live event wagering, quickly became the state with the fastest record in surpassing $1 billion in handle, representing the total amount of money wagered. Astonishingly, this goal was achieved in just 82 days.
Furthermore, Arizona’s momentum continued as they reached the $4 billion mark in eight months. In March alone, enthusiasts of Arizona sports betting contributed $691 million in wagers. Notably, DraftKings alone exceeded $1 billion in total bets.
According to the Arizona Department of Gaming, Arizona bettors have collectively wagered over $5 billion after only one year.
For comparison, Illinois is the second-fastest state to reach the $5 billion milestone. However, it took Illinois bettors a longer period of 18 months to achieve this remarkable sum.
Two-Year Anniversary
Arizona’s gambling landscape experienced a rapid and profound transformation, and its continued success cannot be ignored.
According to a recent report from the Arizona Department of Gaming, the total amount wagered in Arizona has exceeded $11 billion since sports betting was introduced in 2021. In just the first six months of 2023, over $3.2 billion was wagered with Arizona sportsbooks, highlighting the immense growth in this industry.
The second anniversary of the launch of event wagering, which occurred this past weekend, is another significant milestone in the expansion of sports gambling. This surge in popularity is evident through the widespread availability of sports betting apps and the establishment of on-site sportsbooks. Additionally, aggressive marketing campaigns have fueled Arizona’s enthusiasm for sports gambling, making its growth appear unstoppable.
Arizona’s Economy Boost
The economy in Arizona has experienced a positive impact due to the legalization of betting. This has led to the production of considerable revenue for the state through taxes and licensing fees. Recent reports indicate that Arizona has already gained millions of dollars in revenue, which can be utilized to support various public services and infrastructure projects, thereby contributing to economic growth.
Moreover, the legalization of sports betting creates job opportunities within the industry. Roles such as sportsbook operators and odds compilers are being established and filled, leading to increased employment rates and a boost to the local economy.
Additionally, sports wagering has the potential to attract tourism and generate revenue from visitors. Arizona boasts a vibrant sports culture, with professional teams and major sporting events. Consequently, the availability of legal sports betting in the state can enhance visitors’ overall experience, stimulate economic growth, and create numerous new opportunities.
Phoenix, a highly competitive market, has brought economic advantages to the state by embracing sports betting. This has potentially paved the way for hosting prestigious sporting events such as Super Bowl 57 and the 2024 Men’s Final Four. The inclusion of sports betting may play a crucial role in determining future host cities, and the state’s position will be fortified further with the opening of the DraftKings Sportsbook at TPC Scottsdale in October.
